A recent research report by MarkNtel Advisors indicates that the Global Video Surveillance Market is projected to grow at a CAGR of 10.4% during 2021-26. The growth of the market would be driven by the mounting need to install advanced video surveillance systems at public places & high-risk areas to ensure public safety & security and eliminate potential threats. Additionally, growing concerns associated with rising geopolitical tensions & terrorist acts globally are further augmenting the demand for robust, reliable & technologically driven video surveillance systems to address the issues & ensure surveillance over thefts, vandalism, intrusion, murders, etc.
Besides, the rapid integration of advanced technologies like the Internet of Things (IoT), deep learning, data analytics, & cloud computing, among others, into these systems is leading to enhanced surveillance capabilities and, in turn, substantially surging their demand across different sectors. Moreover, constant up-gradations in hardware capabilities of video surveillance systems, such as higher-resolution to maintain image quality & retain fine features, wider coverage, feasibility to operate the camera in extreme weather conditions, etc., are other crucial factors projected to accelerate the market growth, further states the research report, “Global Video Surveillance Market Analysis, 2021.”
Commercial Sector to Continue Dominating the Global Video Surveillance Market through 2026
Of all End-Users, the Commercial sector dominated the Global Video Surveillance Market with the largest share in recent years & is anticipated to prevail the same trend during 2021-26. It owes principally to the increasing application of video surveillance systems across commercial areas like retail stores, banks, hospitals, & other financial institutions in response to the rising cases of security threats & incidents of robbery, unauthorized access, etc.
It, in turn, is propelling the demand for 24*7 monitoring of these entities and driving the need for video surveillance systems. Moreover, with increasing developments of shopping complexes, malls, etc., the deployment of video surveillance systems is also soaring substantially, i.e., positively impacting the overall market growth during the forecast period.
With Massive Investments in Procuring Video Surveillance Systems, Asia-Pacific to Rule the Market during 2021-26
Of all regions globally, Asia-Pacific is projected to dominate the Video Surveillance Market with the largest share through 2026. It owes principally to governments of countries like China & India investing substantially in the manufacturing & procurement of video surveillance cameras, deploying them across different verticals to monitor citizens, movements, traffic, etc., and strengthen the national surveillance networks.
Besides, mounting government focus on infrastructural developments & various ongoing & upcoming smart city projects is also driving the regional market. Moreover, the increasing number of institutions like schools, airports, hospitals, roads, etc., accommodating more people is another crucial aspect anticipated to instigate the production & sales of robust surveillance systems & drive the market across Asia-Pacific, reveals MarkNtel Advisors in their research report, “Global Video Surveillance Market Analysis, 2021.”
Leading Companies in the Market
According to MarkNtel Advisors, the leading players in the Global Video Surveillance Market include Bosch Security System, HIKVISION Ltd., Honeywell Security Group, FLIR, Panasonic, Dahua Technology, Avigilon, Infinova, Axis Communication, and Pelco.
Key Questions Answered in the Study